Electric Car Insurance Review 2022
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- Quick look: Electric car insurance
- What coverages does Electric offer?
- How much does Electric auto insurance cost?
- Who qualifies?
- Additional services
- Things to keep in mind
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The average savings for drivers who switch to Electric car insurance using Jerry is $1,115 per year.
Since car insurance providers all use their own unique formula when calculating your rates, shopping around for car insurance is the best way to save. Jerry is the smart car insurance shopping app that takes the legwork out of buying car insurance. It only takes a minute to sign up, and then you’ll get a list of competitive rates from top providers in your area.
Once you make your pick, Jerry takes care of handling the switchover and canceling your old policy. Jerry will even manage your renewals so you know you’re always getting the best price—without sacrificing coverage.
Here are some real quotes from Jerry users who saved when switching to Electric:
|Quote Date||Car Make||Car Model||State||City||Name||Age|
|May 7, 2022||Toyota||Avalon XL||TX||League-City||Julia J.||25-34||$430|
|May 4, 2022||Toyota||Camry LE||GA||Wrens||Elva H.||25-34||$6,856|
|May 17, 2022||Honda||Accord EXL||IL||Hanover Park||Vera D.||21-24||$820|
|April 25, 2022||Dodge||Dart SXT||GA||Augusta||Esther M.||25-34||$950|
|May 2, 2022||Chevrolet||Impala LTZ||GA||Atlanta||Lura S.||35-44||$268|
Quick look: Electric car insurance
Good for Drivers who want access to features and benefits that go above and beyond standard policy offerings A great list of discounts, including added benefits for General Electric employees People who drive new, electric, or hybrid car models
What coverages does Electric offer?
Electric provides a great range of coverage options that will help you tailor your policy to meet your needs. Here are some popular insurance options they offer:
Most common coverages
- Liability insurance: Most states require drivers to carry liability insurance to help cover the other party’s costs if you cause an accident. Bodily injury liability goes toward medical expenses while property damage liability will help cover car and other property damage.
- Comprehensive insurance: Comprehensive coverage is often required by lenders but is a good thing to have regardless. It’s the only type of insurance that will protect your car from damage caused by external events like flooding, vandalism, or storms.
- Collision insurance: Collision insurance is another full-coverage option that states don’t require you to carry—but lenders often do. Collision insurance will cover damage to your car following a collision or rollover, regardless of who is at fault.
- Uninsured/underinsured motorist protection: The Insurance Information Institute estimates that one in eight US drivers are uninsured, and you could be left vulnerable if you get in an accident caused by a driver who doesn’t have enough insurance to cover the damages. Uninsured/underinsured motorist protection will help ensure that you don’t get left shouldering the costs.
- Medical payments coverage: MedPay is required in a handful of states but optional in most. It will help cover medical expenses for you and your passengers if you get in an accident, regardless of fault.
- Roadside assistance coverage: Electric’s roadside assistance—sometimes knowns as towing and labor insurance—add-on gives you access to emergency roadside assistance services and free towing if necessary following a claim.
- New car replacement protection: Any car that is less than a year old will be replaced with a new version of the same model.
- Gap coverage: Gap insurance will cover the difference between your insurance payout and remaining loan balance if your car is totaled.
- Original equipment manufacturer parts coverage: This policy rider will help ensure that only original factory parts are used to repair your car, so you’re less likely to lose value on your vehicle after a claim.
- Rental reimbursement insurance: Rental reimbursement coverage will help cover the cost of a rental vehicle or alternate transportation if your car requires repairs after you make a claim.
How much does Electric auto insurance cost?
The average Electric car insurance customer will pay $1,551 a year for their premium. The average annual premium for full comprehensive and collision coverage goes up to about $2,334 per year.
Keep in mind that your premiums will vary according to several different factors—and different companies will put more weight on some factors than others. Almost all providers will take your age, the type of car you drive, your location, and any recent accidents or infractions into account when they come up with your rates.
Here are the average monthly payments for minimum and full-coverage insurance with Electric:
|Average Monthly Cost for Minimum Coverage||Average Monthly Cost for Full Coverage|
Electric car insurance costs an average of $2,402 per year for younger drivers. Meanwhile, older drivers will pay less—about $2,330 per year.
Many insurance companies focus heavily on age in their rate calculations. Younger drivers are statistically more likely to get into accidents or rack up infractions than older drivers and are considered a higher risk to insure. For this reason, younger drivers often pay more—even if they have a perfect driving record.
Here’s what drivers pay with Electric according to age:
|Age Group||Annual Cost|
Electric doesn’t place any age restrictions on its policies, meaning drivers of all ages can sign up as long as they’re legally licensed.
Electric does not offer the accident forgiveness program that most big-name providers do. If you cause an accident or get in an infraction, your Electric premiums will likely increase—so if you are a high-risk driver, you might find more affordable options elsewhere.
Here’s the average annual cost of Electric insurance for drivers with an infraction on their record:
|Driving Infraction||Annual Cost|
|Wrong Way/Wrong Lane||$3,160||$1,352|
|Speeding over 15||$2,575||$1,122|
|Failure to Obey Traffic Sign||$2,456||$1,108|
|Driving on Sus. License||$2,307||$1,098|
|Speeding under 15||$2,321||$1,041|
|Leaving scene of an Accident/Hit and Run||$1,847||$593|
|Passing School Bus||$1,433||$583|
Key Takeaway Drivers who fall into high-risk categories might still be able to get a policy with Electric, but premiums will increase after an at-fault accident or infraction.
The quickest and easiest way to find out if an Electric insurance policy can help you save is to use the AI-based broker app Jerry to help you compare rates. It takes less than a minute to sign up—and after providing you with an extensive list of rates from top providers in your area, Jerry will handle the switchover for your top pick. The best part? Jerry is free to use!
Here’s the average annual cost of Electric insurance by state:
Key Takeaway No matter what state you live in, Jerry can help you compare quotes and find the rates and coverage options that work for you.
The discount options offered by Electric insurance are pretty extensive, so drivers have lots of opportunities to save. There are also some unique discount incentives for new car drivers and General Electric employees that may be hard to find elsewhere.
Here are some of the most popular driver- and vehicle-based discounts that Electric offers:
|New car||Drivers who insure a new vehicle with Electric will save 3% to 7%.|
|Electric and hybrid vehicle||If you drive a hybrid or electric model, you will save 10% off your policy price.|
|Accident-free||Drivers who go accident-free for a specified period will be eligible for a discount on their premiums.|
|Good student||Full-time students under the age of 24 who maintain a B average or higher can earn a discount.|
|Away at school||Families who have a student on their policy attending school more than 100 miles away will be eligible to save on their premiums.|
|Married status||Married drivers over 30 are eligible to save.|
|Safe driving||If you meet the safe driving requirements that Electric sets out, you can be rewarded with a discounted rate.|
|Safe vehicle||If you insure a car with certain anti-theft or safety features, you could save more on your policy.|
|Driver training||Drivers who complete an approved driver training course gain access to policy discounts.|
|Low mileage||Clocking fewer miles per year could help you save on your policy.|
|Affinity groups||Members of affinity groups like General Electric will be eligible for discounts and certain policy perks.|
Here are some common policy-based discounts with Electric.
|Paid in full||Paying your premium in full at the start of the term could earn you a discount of up to 5% on your premiums.|
|Plan ahead||Buying your policy 60 to 120 days in advance can help you save up to 7%.|
|Multi-policy||Electric also offers home insurance and other types of insurance coverage, and bundling your policies could help you save.|
|Friends and family referral||Anybody referred by a current customer or General Electric employee will be eligible to save.|
One of the major perks of choosing Electric insurance is gaining access to policy options like original equipment manufacturer (OEM) coverage or new, hybrid, and electric car discounts that other providers typically don’t offer.
Electric also offers a relatively attractive telematics program called the Great Driver app. It comes with an automatic 10% sign-up discount and a 20% discount if you use it for 100 days or more. Unlike many telematics programs, Great Drivers won’t ding you for touching your phone or speeding—and you could save an additional 20% for maintaining good driving habits.
But Electric does not have an app that you can use to manage your policy, so you’ll have to sign in on their webpage to make changes to your account.
Electric also offers a range of other insurance products, including the following:
- Recreational vehicles
Things to keep in mind
Electric allows policyholders to manage their payments online through the MyAccount policy management center. Customers can also pay by phone, mail, or by using online banking services. Electric accepts all major credit and debit cards.
The most straightforward way to cancel your Electric policy is to contact an agent and request to cancel. Be prepared to provide your policy information. In some cases, you may be asked to submit a written request.